CLSA Upgrades Sanderson Farms to Buy

Brokerage firm CLSA Upgrades its rating on Sanderson Farms(NASDAQ:SAFM). The shares have been rated Buy. Previously, the analysts had a Outperform rating on the shares. The rating by CLSA was issued on Aug 18, 2016.

In a different note, On May 27, 2016, JP Morgan said it Downgrades its rating on Sanderson Farms. In the research note, the firm Lowers the price-target to $96.00 per share. The shares have been rated ‘Neutral’ by the firm.

Sanderson Farms (SAFM) shares turned negative on Mondays trading session with the shares closing down -0.24 points or -0.25% at a volume of 3,36,150. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $97.53. The peak price level was also seen at $97.53 while the days lowest was $96.55. Finally the shares closed at $96.7. The 52-week high of the shares is $99.4 while the 52-week low is $64.54. According to the latest information available, the market cap of the company is $2,183 M.

Sanderson Farms(SAFM) last announced its earnings results on May 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $692.09M. Analysts had an estimated revenue of $671.61M. Earnings per share were $2.11. Analysts had estimated an EPS of $1.62.

Several Insider Transactions has been reported to the SEC. On Mar 29, 2016, John Bierbusse (director) sold 750 shares at $88.35 per share price.Also, On Dec 21, 2015, Jones Gail Pittman (director) sold 325 shares at $76.81 per share price.On Jun 10, 2015, Beverly W Hogan (director) sold 6,824 shares at $75.83 per share price, according to the Form-4 filing with the securities and exchange commission.

Sanderson Farms Inc. is a poultry processing company which is engaged in the production processing marketing and distribution of fresh and frozen chicken and other prepared chicken items. In addition the Company is engaged in the processing marketing and distribution of prepared chicken through its wholly owned subsidiary Sanderson Farms Inc. (Foods Division). It produces a range of processed chicken products and prepared chicken items. It sells ice pack chill pack bulk pack and frozen chicken in whole cut-up and boneless form under the Sanderson Farms brand name to retailers distributors and casual dining operators in the south-eastern south-western north-eastern and western United States and to customers who resell frozen chicken into export markets. During the fiscal year ended October 31 2013 (fiscal 2013) it processed 452 million chickens or over 3.0 billion dressed pounds.

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